St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-14
THE STATE OF TRADE.
Some Unexpected Effects of the
Interstate Commerce Law.


NEW York, May 13.-R. G.. Dun &
Co.'S weekly trade review says: A great
revolution in business is going on with
radically conflicting accounts OF serious
losses at some localities and in some
branches, and of wonderful gains at
other places OF in other departments of
trade and industry. The difficulty of
reaching just conclusions respecting the
general tendency is much enhanced.
The interstate act is but one of several
causes which contribute to produce this
revolution i'll cOmmerce-eXpanSiOn in
the volume and change in the kind of
currency is another not less important.
Most unexpected results are produced.
The interstate act clearly helps some
who bitterly opposed it, and as clearly
efitS from its operation. Thus the river
business of the West is expanding under
the influence of the law, and the rail-
roads are at the same time getting larger
earnings from the part of the traffic
they retain, while not afeW cities find,
as Cincinnati does, that trade in many
lines is greatly embarrassed. One gen
eral tendency is disclosed by the general
demands for suspension or change of
the law, especially from those who most
favored its enactment. Serious diver
have been the chief centerS of diStri-
button is in progress, and a multitude
of smaller towns are reaping the benefit.
Western products do not. as q rule, gain
anything in eastern markets. Wheat
has advanced size since the act went
into effect. Corn and oats have declined
a fraction, pork is about the same in
price, lard half a cent lower, hogs
three-eighths of a cent? lower aud
beef sells at the same price.
Cotton has been advanced &c, but this
change, like the rise in wheat, is clearly
speculative and therefore threatens re-
action through curtailment of demand.
Railroad building is not checked by the
act as yet and there is probability that
by encouraging traffic at many instead
of few centerS of trade the law may tend
to the building of the numerous local
roads and parallel or rival lines. The
output of pig iron again increases, reach
ing about 139,300 tons weekly May l,
but this is probably high water mark for
the time, many furnaces in the Pitts
burg region having since been ''banked"
because of the coke strike, while other
Oh account of raj rates. Enormous inn
ports also tend to depressi0n. The lock-
out of stove moulderS has increased in
Importance and suspicious are growing
that the manufacturers desire. through
general suspension of work, to reach
higher range of prices for products. The
exports Of wheat in April were 6,524, OG1
bushels, against $685., 975 last year, with
$500 barrels of flour against 703, 12S
last year. The exports of breadstuffs
reached ST., 534 ,439 in value, against
Sl1,959,94S last year, showing that the
comparatively quiet market in that
month favored large ShiDmentS But
prices have since climbed rapidly, with
sales of nearly S0,O00,000 bushels in
week, and exports as reported, while
accounts of seeding show great in
crease in acreage in Dakota and Mime
sofa. The lumber trade shows an in
crease of demand, with scarcity in some
lines. The business failures during the
last seven days number for the United
States 1876, and for Canada 81, total of
167, against 1872 last week and 176 the
corresponding week last year. Failures
are decreasing in all parts of the
country, except, perhaps, Canada and
the provinces.